Payments News

Tech

Deutsche Bank buys stake in Modo to expand payments biz to non-bank platforms

“Founded in 2010, Dallas-based Modo works to reduce friction in the payments industry through technology that creates interoperability between systems, without needing changes to those systems. Deutsche Bank says that Modo’s technology will help it expand its existing digital B2B and B2C payments business. In particular, it will help extend payments into non-bank payment platforms such as Alipay, Paypal, M-Pesa and WeChat, beyond traditional banking channels into mobile wallets and P2P networks.”